North American Class 4–8 Truck Engine Replacement Growth Opportunities

North American Class 4–8 Truck Engine Replacement Growth Opportunities

Frost & Sullivan's research service on the class 4–8 replacement engine aftermarket in North America forecasts the market size from 2022 to 2028. The base year is 2021, and the study period is 2018 to 2028. This study analyzes key medium-duty (MD) and heavy-duty (HD) truck engine replacement trends in the aftermarket. The engine replacement segments covered are new, used, rebuild, and remanufactured products. Market forecasts are derived from the miles driven, usage patterns, replacement rate, new truck sales, and total vehicles in operation (VIO), including a breakdown of the engine replacement aftermarket by unit shipment, revenue, distribution channel, and price. Furthermore, the analysis includes a look at the competitive environment and market share of top participants, including supplier profiles.

The North American class 4–8 engine replacement aftermarket is mature, and the well-established participants have built strong relationships across all distribution channels. The engine replacement aftermarket is a relatively low-volume space because engines are made to last for many years, which results in infrequent replacements depending on the miles driven, maintenance practices, and operational environment. Moreover, engine technology is improving consistently in terms of reliability and durability, thus extending its useful life, and newer model vehicles are fitted with advanced, cleaner engines that ultimately extend the replacement rates for fleets. Also, customers are highly price sensitive in the class 4–8 truck segment, especially when considering an engine replacement due to the older average age of vehicles that require this type of service. Therefore, customers must determine the total cost of ownership for each replacement type and the overall health of their equipment to determine the most cost-effective solution. The study concludes with a discussion of 3 growth opportunities in this space that participants can use to take action.